Without The Triggers, That Tax Cut Is

We May Be In A Rapidly Evolving International Financial System With All The Bells And Whistles Of The So-called New Economy. But The Old-economy Rules Of Prudence Are As Formidable As Ever. We Violate Them At Our Own Peril.

It Is Decidedly Not True That "nice Guys Finish Last," As That Highly Original American Baseball Philosopher, Leo Durocher, Was Alleged To Have Said.

I Do Not Deny That Many Appear To Have Succeeded In A Material Way By Cutting Corners And By Manipulating Associates, Both In Their Professional And In Their Personal Lives. But Material Success Is Possible In This World And Far More Satisfying When It Comes Without Exploiting Others.

But Rules Cannot Substitute For Character.

I Have Long Argued That Paying Down The National Debt Is Beneficial For The Economy: It Keeps Interest Rates Lower Than They Otherwise Would Be And Frees Savings To Finance Increases In The Capital Stock, Thereby Boosting Productivity And Real Incomes.